Q1 2024 Earnings Estimate for Range Resources Co. Issued By Capital One Financial (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Equities researchers at Capital One Financial cut their Q1 2024 earnings per share estimates for shares of Range Resources in a research note issued to investors on Tuesday, April 16th. Capital One Financial analyst B. Velie now expects that the oil and gas exploration company will post earnings of $0.45 per share for the quarter, down from their previous estimate of $0.52. The consensus estimate for Range Resources’ current full-year earnings is $1.92 per share. Capital One Financial also issued estimates for Range Resources’ FY2024 earnings at $2.05 EPS.

A number of other equities research analysts have also recently issued reports on the company. Barclays started coverage on Range Resources in a research note on Wednesday, April 10th. They set an “underweight” rating and a $35.00 price objective on the stock. Benchmark cut Range Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Mizuho reiterated a “buy” rating and set a $39.00 price objective on shares of Range Resources in a research note on Thursday, April 11th. StockNews.com upgraded Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Finally, Truist Financial dropped their price target on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.75.

Range Resources Trading Down 0.7 %

Shares of Range Resources stock opened at $34.72 on Wednesday. Range Resources has a 12-month low of $23.92 and a 12-month high of $37.88. The stock has a market cap of $8.41 billion, a P/E ratio of 9.81 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $32.76 and its 200-day moving average is $32.20.

Range Resources (NYSE:RRC) last released its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.42 by $0.21. The firm had revenue of $941.40 million for the quarter, compared to analysts’ expectations of $672.25 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The business’s quarterly revenue was down 42.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new stake in shares of Range Resources during the 3rd quarter worth $26,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Range Resources by 333.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 666 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Range Resources during the 3rd quarter worth $27,000. Lazard Asset Management LLC acquired a new stake in shares of Range Resources during the 2nd quarter worth $28,000. Finally, Proffitt & Goodson Inc. acquired a new stake in shares of Range Resources during the 3rd quarter worth $32,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Thursday, March 14th. Range Resources’s dividend payout ratio is 9.04%.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.